Question

Alle 30.2022. the end of its most recent co n sta n ce was soos Credit Cach Accounts receivable Debit 54.500 1.030 590 Suos Accounts payable 5340 U ne viene Common stack 2100 Retained earnings 1.720 56. 120 54 120 The company underwent a major expansion in following transactions during 2002 dadu Newstawashed more inancing was obtained Grouperconducted the July 1 Purchased ipment, paying $1.200 chandlinga b e for $17.200 The Guipment has a 4-year of the Theo has a restrw ch on the day of the month 2 Issued 17,200 shares of common stock for $43.000 cash 3 P 1000 cash for a 12-month insurance poli cie 1 3 Paid the first 2 Duly and August 2022 months rent for a l l of office space for $3,400 per month 6 Paid $3.300 for supplies Visited client offices and greed on the terms of con t rover e d Connor Production on the 20th of each month for services performed Collected $100 cash on account from anothers. This cent was billed in a when Gruber performed the service Performed services for Fitzgerald Enterprise. This client paid 5960 in avance last month. All services relating to this * payment are now.com 14 Paid $340 cash for a utility bil. This related to me that were accrued at the end of une 16 Met with a new client, Thunder Bay Technologies Received $10.300 cash in advance for future services to be performed 18 Paid semi-monthly salaries for $9.500 20 Performed services worth $24.100 on account and billed customers 20 Received a bill for $1.00 for advertising Services received during the amount is not dur until August 15 Performed the first phase of the project for Thunder Bay Technologies. Recognized $8.600 of revenue from the cash advance received y 16 27 Received $12.900 cash from customers billed on 20 Adjustment data 1 Adiustment of oresaid insurance 2 Adjustment of prepaid rent 3. Supplies used. 51.100 4 Equipment depreciation 5425 per month 5. Accrual of interest on note payable 6. Salaries for the second half of July 59.500, to be paid on August 1 7. Estimated utilities expense for July 5690 Invoice will be received in August 8. Income tax for July $1,030, will be paid in August. The chart of accounts for Grouper Computer Consultants contains the following accounts: Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Equipment Acumulated Deprecation-t oment Accounts Payable Notes Povable interest Payable Income Taxes Payable, Salaries and Wages Payable. Uneared Service Revenue Common Stock Retained Earnings Dividends, Income Summary Service Revenue Supplies Expense Depreciation Expense, Insurance Expense. Salaries and Wages Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, Supplies Expense, and Utilities Expense.

Answer 1

Cash
July 1 bal.	4,500	July 1	3,200
July 2	43,000	July 3	3,000
July 10	1,030	July 3	6,800
July 16	10,300	July 6	3,300
July 27	12,900	July 14	340
		July 18	9,500
July 31 bal	45,590
Accounts Receivable
July 1 bal.	1,030	July 10	1,030
July 20	24,100	July 27	12,900
July 31 bal.	11,200
Supplies
Jul 1 bal	590	Adj. 3	1,100
July 6	3,300
July 31 bal.	2,790
Prepaid Insurance
July 1 bal.	0	Adj 1	250
July 3	3,000
July 31 bal	2,750
Prepaid Rent
July 1 bal.	0	Adj. 2	3,400
July 3	6,800
July 31 bal.	3,400
Equipment
July 1 bal.	0
July 1	20,400
July 31 bal.	20,400
Accumulated Depreciation : Equipment
		July 1 bal.	0
		Adj 4	425
		July 31 bal.	425
Accounts Payable
July 14	340	July 1 bal.	340
		July 20	1,900
		Adj. 7	690
		July 31 bal.	2,590
Notes Payable
		July 1 bal.	0
		July 1	17,200
		July 31 bal.	17,200
Interest Payable
		July 1 bal	0
		Adj 5	86
		July 31 bal	86
Income Taxes Payable
		July 1 bal.	0
		Adj. 8	1,030
		July 31 bal.	1,030
Salaries and Wages Payable
		July 1 bal.	0
		Adj. 6	9,500
		July 31 bal.	9,500
Unearned Service Revenue
July 13	960	July 1 bal	960
July 23	8,600	July 16	10,300
		July 31 bal.	1,700
Common Stock
		July 1 bal	3,100
		July 2	43,000
		July 31 bal.	46,100
Retained Earnings
		July 1 bal	1,720
Service Revenue
		July 1 bal.	0
		July 13	960
		July 20	24,100
		July 23	8,600
		July 31 bal	33,660
Supplies Expense
July 1 bal	0
Adj. 3	1,100
July 31 bal	1,100
Depreciation Expense
July 1 bal.	0
Adj. 4	425
July 31 bal.	425
Insurance Expense
July 1 bal	0
Adj. 1	250
July 31 bal	250
Salaries and Wages Expense
July 1 bal.	0
July 18	9,500
Adj. 6	9,500
July 31 bal.	19,000
Advertising Expense
July 1 bal.	0
July 20	1,900
July 31 bal	1,900